Unlike a tax levy, which involves intangible assets such as your bank account, a seizure is the taking of physical assets, such as your home or car, to pay delinquent taxes. Seizures usually happen in aggravated cases when someone ignores many requests by the tax authorities over a long period of time to pay their outstanding taxes.
A tax seizure should not be taken lightly. When tax authorities seize your assets, they want to sell them quickly at auction. Since items sold at tax auction often bring in less than half their real value, its in the tax authority's interest to sieze everything of yours that they can, including your home, cars, boats, jewelry, motorcycles, insurance polices, and even your retirement funds, to insure that they can recoup your delinquent taxes.
We can help you prevent the seizure and sale of your assets, by working with you and the tax authorities to find a resolution that benefits all parties, and puts you back in good tax standing.
